Wednesday, October 31, 2012

Seventeenth Street Plaza sold to HRPT - Birmingham Business Journal:

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Newton, Mass.-based HRPT (NYSE: HRP), a real estate investment trust that owns and operates office andindustriaol buildings, paid cash for the The sales price was not announced. Seventeenth Street Plazw is located at 122517th St., across from the Tabot Center office, retail and hotel complex. It was developed by what’s now Joned Lang LaSalle Inc. of Chicago, and was completed in 1982. Previouas owners include Equitable Real Estate InvestmenytManagement Inc. (ERE), part of the Equitable insurance Australian real estate giant LendLease Ltd. took over the building in the 1990z after itacquired ERE.
JPMorgan quietly put the building on the markeyt inearly 2008, asking $385 per squarw foot, or roughly $250 million, brokers said. Brookfield Properties Corp. of New York and Toronto had the buildingg under contract to purchase last summerrfor $225 million, but the deal was not consummated because of the debt impact on Brookfield’s lender, said real estate brokers knowledgeabled about the deal. As of the building was off the market. The with an attached parking structure, is 93 percenty leased and includes Ink! Coffee and Heidi’s Brookly Deli outlets. It is home to the headquarters of Molsojn CoorsBrewing Co.

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